Chapter 310: A long day

The owner of "Xie Liyuan Gold Shop" ran away, and the news of the store's liquidation, like a hurricane generated in the Pacific in the summer, swept across the entire financial market of Xiangjiang instantly.
The stock index, which has been oscillating downward since the opening of the morning, finally failed to withstand the pressure of huge selling and began to vent all the way down.
The first to bear the brunt is of course the "Xie Liyuan Gold Shop". The rate of decline is like a high platform diving, almost a cliff-like fall, and the Hang Lung Bank, which has always been closely related to it, is closely followed.
This is the two companies Jiao Bu Li Meng and Meng Bu Jiao. Hang Lung Bank has participated in almost all Xie Liyuan's investment projects. Now that Xie Liyuan has something wrong, investors with a little bit of mind will immediately associate it with Hang Lung Bank. !
Since Hang Lung Bank must have problems, how about Hang Lung Properties, which has the same name as it?
If this association continues, there are still many small and medium-sized banks, real estate companies, and financial companies. Are they all right?
Therefore, on this day, the entire Hong Kong financial market can be described in one word, and that is-fall.
Almost all financial products are plummeting, stocks, real estate, and futures of various products... Oh, not all. One futures product pulled out a beautiful big sun and became a unique landscape of the day.
The only bright spot is of course gold.
As soon as the market was closed at noon, Xiangjiang’s stock index had fallen by nearly one-third, and hundreds of billions of company valuations were wiped out. Countless people lost their money, so that the rooftops of major high-rise buildings have become popular resources and need to be advanced in advance. Book a location...
Seeing that a financial tsunami had erupted, the Hong Kong government had no choice but to adopt the most rogue and most useful trick-the market was closed in the afternoon.
The financial market is closed, but there is one more thing ordinary citizens can do, and that is-withdraw money!
Regardless of which bank it was, there were bustling traffic and long lines in front of the door. People scrambled to take out wads of cash from the banks, and then carefully packed them in newspapers, school bags or even sacks and moved them back. Home, because no one knows who will fall next.
The answer was quickly revealed, it was "Diners Finance".
Since it is called a "financial company", its basic business items can also be classified into "purchasing and storage", "lending", and "financial investment".
In fact, Xiangjiang's finance company has had a difficult time since the second half of last year. Because the Hong Kong government has seen that the Hong Kong economy has experienced obvious overheating and bubbles since the late 1970s, and the financial market is also full of various speculative behaviors, it has implemented the "three-tier financial system" since July 1981. .
The so-called "three-tier financial system" should be called the "three-tier licensing system of Heung Kong Financial Bank", which means that various financial institutions are divided into three levels and strict access management is implemented.
The first level is "licensed bank";
Only "licensed banks" can operate current and savings businesses, and can accept deposits of any amount and maturity from the public, and pay checks issued or deposited by customers.
The second level is "Limited License Bank";
Banks with restricted licenses can only engage in commercial banking and capital market related activities, and can also accept deposits of any period of 500,000 yuan or more.
The third level is "deposit-taking company";
Deposit-taking companies can engage in investment transactions such as private consumer credit and securities exchange rates, but they can only accept deposits of 100,000 yuan or more with a deposit period of at least 3 months.
For Diners Finance, which has only obtained a third-level license, the rule that
can only accept deposits of 100,000 yuan or more with a deposit period of at least 3 months
will undoubtedly remove them A yoke is put on his neck, because this means that the largest short-term small amount of hot money in the market will not be with them.
Immediately afterwards, the Hong Kong government revised the land auction policy and cancelled the preferential conditions for
buying land in installments
which had been implemented. This also meant that land developers needed to raise huge amounts of funds to sell the land at once. The purchase money is handed over to the government.
In addition, due to the continued boom in the Hong Kong property market in the past few years, the import volume of building materials has increased sharply, leading to the continuous increase in Hong Kong’s foreign trade deficit; and the US President-elect Reagan in 1980 implemented a monetary tightening policy to combat inflation. Following this, it continues to rise; affected by this series of internal and external factors, Hong Kong's Hong Kong dollar interest has also been continuously pushed up.
Since the second half of 1981, the property market in Hong Kong, which has reached its peak, has gradually fallen into slow sales, while the interest rate on loans has continued to rise. In October 1981, it reached an astonishing level of 20% per annum, and the mortgage of buildings was even as high as twenty one%!
Unfortunately, "Diners Finance" has a backlog of non-performing property mortgage loans. These loans, which were originally made at extremely high valuations, are facing a mortgage of up to 21% under the trend of gradual decline in house prices. Under the pressure of interest, he was ruthlessly abandoned by the unscrupulous owners, cut off the confession, no more.
So the cash in the hands of "Dalai Finance" has become a pile of houses that cannot be sold and are still depreciating every day...
But these cash is not its own, it is also borrowed from the financial market at interest, so "Dalai Finance" is a tragedy.
In fact, it still has a silver lining, because it has a very close relationship with the "Hang Lung Bank" and has already obtained a large loan from the latter. As long as it operates well, it may not be impossible to survive the crisis.
However, "Dalai Finance" took a radical approach. It used the loan obtained to invest in the foreign exchange market, and it was full of long pound sterling. It hoped that the British army of the former sun never set empire would be as powerful as the previous glorious era When Argentina hit the ground, the British pound played triumphantly.
Unfortunately, things backfired. With the development of the war, the British pound went out of a big "V"-shaped trend, and the highly leveraged "Dalai Finance" failed to wait for the day when the pound bottomed out and rebounded.
However, these are all hidden losses. As long as the cover is not opened, Diners Finance will still have the opportunity to make a profit. After all, it still has some assets in its hands that can be used as the final gambling capital.
Unfortunately, today, the "run" triggered by the "Xie Liyuan Gold Shop" spread too quickly and violently, and they did not give them any mental preparation. Numerous investors were holding deposit certificates issued by "Dalai Finance". I found them and asked to withdraw their hard-earned money. Some were excited and even expressed that they would sacrifice the interest to cash it...
You know, based on HeungKong's latest three-level financial management system, everyone here has a certificate worth at least HK$100,000!
Only the little remaining cash was quickly withdrawn, and then the people who went to the "Hang Lung Bank" for help returned empty-handed-because the "Hang Lung Bank" was also on the verge of faltering, and it was hard to protect itself!
Several senior leaders of "Diners Finance" who maintained order at the scene took action immediately after learning that the support had been broken-they took the initiative to report the case and asked the police to immediately intervene and immediately take themselves away, even exposing themselves to achieve their goals. Inside the company’s multiple illegal transactions...
After all, they are professionals who play financial affairs. The accounts are clear and they are taken away by the police. At least temporary safety is guaranteed, and there may be a chance to be a "stained witness" in the future. It's hard to say, whether it will be thrown downstairs by the angry crowd, but no one can say.
"Diners Finance", bankruptcy and liquidation!
However, this long day is not over yet.